How to value Tesla

Tesla’s soaring valuation — it breached the $1 Trillion level recently on the news that Hertz had placed a massive order for Model 3s– continues to confound some market watchers. By conventional metrics, neither its sales nor profits, even projected explosively, merit such riches. (CEO Elon Musk, himself, wondered why the Hertz order had spiked the valuation, since the company isn’t lacking demand for its products.) Meanwhile, Tesla bears are packing it in: The percentage of Tesla stock borrowed by traders has slumped to its lowest level since the company went public.

So, what gives? Is the stock untethered from reality, pumped full of helium by market sentiment, destined to pop at a certain altitude?

Here’s my explanation (I’m sure you’ve heard this statement before since it’s applied periodically to high-flyers. …

Nearly 50 years ago the philosopher Thomas Nagel postulated a thought experiment called, “What Is It Like To Be A Bat?” that quickly became one the most influential contributions to the sub-field of consciousness studies called “philosophy of mind.”

Today, as one half of America tears its hair out trying…

On Monday, 27 February 1933, precisely four weeks after Adolf Hitler was sworn in as Chancellor, the Reichstag, home of the German parliament in Berlin, was consumed by a massive fire in a daring act of arson.

It turned out to be a pivotal event. The Nazis promptly blamed the Communists for the fire and for plotting against the German government. The very next day Hitler urged President Hindenburg to issue an emergency decree to suspend most civil liberties in Germany, including habeas corpus, freedom of expression…

A health care worker outside the emergency center at Maimonides Medical Center, in New York City, on April 13. (CNS photo/Andrew Kelly, Reuters)

Unsurprisingly, millions around the globe have turned to the internet for solace as the pandemic sweeps the land; searches related to prayer in 75 countries skyrocketed to their highest levels in five years in March. Online ministries are doing a land office business in cyber conversions. …

We’ve long since abandoned the belief that natural disasters are divinely initiated punishments. And yet, as the virus ravages the land, who amongst us couldn’t be forgiven a slight twinge of something like guilt — a vague sting of what could be called “karmic justice?” Is this divine retribution for…

That the United States suffers a profound — and paralyzing — polarization along ideological lines is no big revelation. The question is: Will the coronavirus pandemic heal the divide, or will it deepen the fissure? With unemployment forecast to exceed the worst of the great depression, with the wholesale destruction…

Girish Mhatre

Just trying to figure things out.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store